Fold Launches Bitcoin Bonus Program for Employers

Fold Holdings, Inc., a Nasdaq-listed Bitcoin-focused financial services company, launched its Bitcoin Bonus Program on Thursday, allowing employers to distribute recurring bonuses in bitcoin without overhauling existing payroll systems. The initiative, rolled out through the company's Fold Business platform, targets workplace compensation and has already secured adoption from major employers including Steak n Shake and Simple Mining. Shares of Fold (ticker: FLD) initially fell 3.95 percent to close at $1.46 before rebounding 1.20 percent to $1.4775 in premarket trading, with the company maintaining a market capitalization of approximately $73 million.

The program enables businesses to allocate bonus amounts in U.S. dollars, which Fold then converts to bitcoin at the prevailing market rate during payroll cycles. Fold handles all aspects of the process, including secure custody using multisignature wallets and cold storage, customized vesting schedules, and direct delivery to employees via the Fold app. Vesting conditions, such as tenure-based milestones ranging from months to years, aim to promote long-term employee retention by encouraging holders to accumulate bitcoin as a...